Yitzhak Tshuva

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Yitzhak Tshuva
Born Yitzhak Tshuva
(1948-07-07) July 7, 1948
Tripoli, Libya
Nationality Israeli
Other names

Yitzhak Sharon

Isaac Tshuva
Occupation Chairman of the El-Ad Group
Net worth Increase $2.2 billion (2013)
Religion Judaism
Spouse(s) Chaya Tshuva
Children 5

Yitzhak Tshuva (born July 7, 1948) is an Israeli business magnate. He is the chairman of El-Ad Group, which owned the New York Plaza Hotel. He also owns the Israeli conglomerate Delek Group. In 2012 he was listed by Forbes as the eighth wealthiest Israeli. His personal wealth is estimated to be $2.2 billion as of March 2013,[1] down from a peak of $3.5 billion in 2008.[2]

Biography

Tshuva was born in Libya in 1948, his family immigrated to Israel as part of the Jewish exodus from Arab and Muslim countries when he was six months old; at the age of 12, he started working in construction and agriculture. After his army service, he began working as a contractor for the Israeli Defense Ministry, building fortifications along the Bar-Lev Line near the Suez Canal, after Israel captured the Sinai Peninsula from Egypt in the 1967 Six Day War.[3]

In 1970s, Tshuva became a developer of low-income neighborhoods mainly in his home town of Netanya. His major business breakthrough came in 1998, when he managed to gain control of Delek, The Israel Fuel Corporation, from the Recanati business family’s IDB Holdings; which he grew and developed into the Delek Group, a global integrated energy company.[3]

See also

References

  1. ↑ Forbes The World's Billionaires, March 2013
  2. ↑ #307 Yitzhak Tshuva - Forbes billionaires 2008
  3. ↑ 3.0 3.1 Isaac Tshuva: Israel's Gas King, Calev Ben-David and David Wainer; April 22, 2010, Business Week
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